Mutual Fund & Finance Ministry

A mutual fund is a type of professionally-managed collective investment vehicle that pools money from many investors to purchase securities. The finance minister is an executive or cabinet position in a government.0.3/5

The Association of Mutual Funds in India wants the Finance Ministry to allow fund houses to introduce a mutual fund linked retirement plan on the lines suggested by the SEBI Board in February.

14 Dec 2012 05:39

"Mutual Fund houses call for abolishing TDS on overseas investment income" The mutual fund and the fund management community has written to the finance ministry and Sebi to abolish TDS on income on investments coming from overseas and managed by portfolio managers in India either through a gazette notification or through budgetary provisions. “It has been argued that CBDT has to recognise that whether you operate in India or overseas, as long as the investor is coming from overseas and that originating country has got a double taxation treaty with India, then you don’t need to deduct TDS on such investments, even if we manage such money sitting in India,” said a mutual fund industry insider who did not wish to be named. The source also added that Sebi is positive on this and even government officials are open to this change... financialexpress

22 Nov 2012 13:39

DOMESTIC NEWS • RBI Deputy Governor says India's wide fiscal and current account deficits, and high inflation have been hurting economic growth. • Indian government’s indirect tax collections rose 17% to Rs 2.57 lakh cr in April- October period as against the annual growth target of 27%. • World Bank says India will receive record $70bn remittances in the year 2012, topping the list of developing countries which are expected to receive a total of $406bn this year. • Japan to give a fresh loan of about $2.26bn for the second phase of Dedicated Freight Corridor and an infrastructure project in Southern India. • Finance Minister asks banks to bail out builders, particularly those involved in construction of residential properties, in order to revive the economic growth. • Finance Ministry permits Life Insurance Corporation to invest up to 30% in a company as against the earlier ceiling of 10%. • Government to kick-start its divestment programme on November 23 with the sale of 4% stake in Hind ...

03 Jul 2012 04:22

Mutual Funds UPDATES Mutual Fund industry wants investors to bear service tax burden 2 JUL, 2012, 10.11PM IST, PTI NEW DELHI: Mutual Fund houses will benefit at the cost of investors if the government accepts the proposal of the industry to shift the burden of service tax on buyers and allow it to raise administrative fees and other expenses. These proposals were mooted by the Mutual Fund industry at a meeting today with the officials of SEBI and Finance Ministry, which among others were attended by Economic Affairs Secretary R Gopalan. The ministry has called a meeting in deference to the wishes of Prime Minister Manmohan Singh, who had last week suggested that efforts should be made to resolve the problems of the MF industry, which is witnessing decline in collection since 2009-10. The MF industry has pitched for raising expense ratio, which includes administrative fee and marketing cost, by 25 basis points. Besides, they also made a case for doing away with the sub-ceilings under the expense ratio and ...